This war against Iran has demonstrated to Canadians that even though we produce more oil and gas than we can use, we are not immune to far-off conflicts and the international price fluctuations of those commodities.
In fewer than 10 days, we have seen the price of a barrel of oil almost double and the corresponding price of natural gas follow. It is reflected at the pump. Unfortunately, one of the costs that consumers are not expecting will come in the groceries we buy as the cost of transporting those products will increase and that will be reflected on the store shelf.
We realize that we will be dependent on carbon fuels for decades to come. We will continue to use natural gas and propane to heat our homes. We will continue to use gasoline and diesel fuel to power our boats, cars, trucks and transports and to power the ships that navigate the world bringing products from one side of the world to the other.
In the not-too-distant future, renewable energy resources will be more important to every household and individual throughout the world. Canada will be sending both crude oil and liquid natural gas to Europe, China, India and Asia to produce electric power as those countries develop alternate forms of energy.
Two projects in the district—“Carbon Free Fort Frances” and “First Light” —will each produce more electricity than the district can use, but those two projects will put electrical energy into Ontario’s Energy Grid for decades to come. They will join a third solar farm operated by Manitou First Nation. Just the development of those two projects will create a huge new industry in the district.
But this is just the tip of the planned electrical energy developments across Canada. Ontario has already initiated a start to the first new nuclear energy project in Canada. In 2023 Bruce Power began hunting for a reactor known as Bruce C. Ontario Power Generation began a search for a plant planned for Port Hope.
In January, the Saskatchewan government began evaluating large nuclear reactors to be operated by SaskPower. In Alberta projects are underway to develop hydrogen-based clean energy projects. Other projects are being developed to remove carbon dioxide from the area and bury it deep in the ground.
But experts warn us that electricity prices will spike. They warn us that the growing demand for electrical vehicles and artificial intelligence will put strains on our existing electrical grid. Just as nations look for a dependable supply of oil and gas, Canadians must expect dependable electricity. Industries of the future are demanding reliable clean energy. Wind and solar farms are a quick fix, but for long-term electrical energy we will have to rely on nuclear-powered electrical generation.
With the development of clean energy, the electrical grid across Canada must become more integrated between provinces and territories. Canada and its provinces have lots of work to meet demands in the next half decade.
